Indonesian energy firm Adaro Andalan eyes $291m in local IPO

Indonesian energy firm Adaro Andalan eyes $291m in local IPO

A stacker-reclaimer operates next to stockpiles of coal as a rainbow forms in a spraying jet of water at the Newcastle Coal Terminal in this aerial photograph taken in Newcastle, Australia, on Saturday, Oct. 3, 2015. Photographer: Brendon Thorne/Bloomberg

Indonesia’s Adaro Energy is looking to raise 4.6 trillion rupiah ($291 million) through an initial public offering (IPO) of its thermal coal unit Adaro Andalan Indonesia.

Edited by: Joymitra Rai